GW&K Investment Management LLC Sells 2,928 Shares of IDACORP, Inc. (NYSE:IDA)

GW&K Investment Management LLC cut its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 721,839 shares of the energy company’s stock after selling 2,928 shares during the quarter. GW&K Investment Management LLC’s holdings in IDACORP were worth $78,882,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IDA. Legacy Investment Solutions LLC bought a new position in shares of IDACORP during the third quarter worth about $25,000. MassMutual Private Wealth & Trust FSB increased its position in IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Versant Capital Management Inc raised its holdings in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky lifted its position in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after purchasing an additional 225 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of IDACORP in the 4th quarter valued at $45,000. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and raised their target price for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Finally, Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, IDACORP currently has an average rating of “Hold” and a consensus price target of $116.20.

IDACORP Stock Performance

Shares of IDA opened at $115.26 on Friday. IDACORP, Inc. has a one year low of $86.47 and a one year high of $120.42. The company has a market cap of $6.22 billion, a PE ratio of 21.03, a P/E/G ratio of 2.32 and a beta of 0.65. The stock has a 50-day moving average of $110.25 and a 200-day moving average of $108.29. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, equities research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is 62.77%.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.